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Staying at an econo lodge... oh my.
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S& imo has a way better brand and the pay is in line with other T2 strategy shops.
S& without a doubt. Yes, we are not called Booz anymore and the transition has been challenging (which one isn't?!), but things are much better and the type of work we do is the same as in the Booz days with the advantage that we can now access PwCs capabilities.
And yes, comp is competitive with MBB.
S& for this one, without a doubt
Neither, actually. Being ex-PwC, I can tell, S& was pretty bad. In general, I wouldn’t work for KPMG.
Oh yeah and ex-PwC has so much clue. EY deserves you!
very helpful, EY1!
I’ve worked with ~ 10 partners over the past 3 years. All are either still here from Booz or joined from BCG recently (Manager, FS).
The KPMG guy writing paragraphs has no clue what he’s talking about.
KStrat is different that all the other big 4 strat groups because it is being grown organically. It is also integrating globally with all the strat teams of all member firms as the Global Strategy Group. There are a lot of opportunities to be a part of growing the practice. Pay is in line with all other strat shops.
K-Strat is doing very well. My take:
- If you care, everyone at K is ex-MBB (whereas at S&, all the good folks went to MBB).
- K’s culture is superior imo but S& will have a more established strategy brand (but keep hearing bad things about layoffs and culture).
- K also advocates being industry generalist, whereas S& demands you specialize immediately (which can be good or bad depending on you).
- S& will probably have better B-School placements and exit opps in the short run.
- S& is much leaner and self-reliant. Some practices are extremely tight knit and I enjoy that.
Nobody takes KPMG serious. Just bullshit that all partners left, just rumors spread by desperate counsel outs.
S& partners have been abandoning ship and coming back home. (An entire digital practice in one geographic region arranged to be bought out and rejoin us). If that's any indication of culture for you. Also, was at PwC prior to Booz. Can confirm they totally dropped the ball on integrating them into Advisory.
Old news. Actually situation has turned positively.
KPMG 7 lots of logical flaws in your post. Not going to address them all, but first how do you know KPMG didn't get the rejects from S&, BCG etc? Mix of ideas/cultures doesn't equal GOOD, what data led you to the conclusion that the ones left would cash out? (they have been able to do so for a while). Facts, some partners left for several legit reasons (ex-issues with majority of thier prior clients being audit clients e.t.c), but also new opportunities opened up through the relationship with pwc, such as access to new clients and the ability to sell E2E solutions. Not claiming everything is perfect, but like someone mentioned things are much better than few years ago. Stop spreading personal opinions as facts, it doesn't help inflate your firm's brand.
I think comp should be on S&. They may have higher bonus targets but believe base should be very similar. That was the case for me at least as a post MBA hire. Just not sure how that changes for experienced hires
Most Booz&Co Partners have quit and gone to other firms. Don’t listen to the BS claims they make about retention, the true number is well over 60%. S& is a shell of what Booz&Co was and old school BAH WCB is completely dead. All the good Partners have left. Maybe there are a few left but they got their payday and are checked out.
KPMG strategy has a lot of Booz partners, At least 3 practices made up of Booz Partners combined with BCG, McK, and OW Partners creating a good mixing bowl of ideas (see the fishbowl reference?). PwC has three firms they smashed together and haven’t done a good job of integrating.
KPMG strategy practice is growing and heavily invested while PwC is struggling to keep the S& ship from sinking missing targets each year.
PwC houses S& in their MC business creating big conflicts. KPMG houses Strategy in their deal business which creates synergy since strategy work often points to inorganic growth. Natural fit for the practice and KPMG is the strongest deal practice of the big-4.
Way of working is very different too. KPMG has embraced data and analytics. If you want to learn how to work with big data in your everyday work flow, KPMG is the better bet.
My brain exploded from what that KPMG guy wrote. There are legacy Booz guys at Booz Allen and I still keep in contact with at least over 7 legacy Booz guys at S& (and through them I know there are still many partners there). I have seen many partners leave S& to other firms - namely OW or BCG, not KPMG - but the Booz culture largely remains most of the Booz people that left left because there was conflict with their clients and PWC’s Audit business.
OP, I would highly recommend you just do a background check on the partners you know at KPMG or S& to confirm what anyone is saying on this post. That way you can discern what’s legit data or not - like a true strategy consultant :)
strategy is doing very well
*Same level as S&
People move all the time. Some partners left, some new ones joined, some directors got promoted. The effect of the transition was more strongly felt for the people who were on both sides. For new hires, it's just typical smooth sailing.
S& is way more legit and has a deeper footprint but the presence is a fraction bc of Pwc so a lot of verticals arent even t2/Booz type work streams anymore - money is sweet. But the culture is disgusting where as I hear kpmg has good culture and people. S& doesn’t hav
Can also vouch, the BoozCo partners are returning to Booz (a lot stayed anyways) esp since Booz can play commercial again.
Wait...if you wanna implement stuff, then why are you leaving pwc for strategy practices?
Because the differential in comp between PwC and S& is so high, it creates friction
The issue is rather that the firms are too close right now. More separation would both help PwC and S&!
Don’t listen to EY. We have a great advisory practice, but I can’t speak to Strategy specifically. I bet S& pays better than we do though